Growth of European Major Currencies Can Continue After PMI Data

It is expected, that the European stock markets will open slightly higher today, as traders are waiting for manufacturing PMI reports of Europe. Investors expect that today's data on the PMI will support the growth of the euro and the British pound.

The euro and the British pound have significantly strengthened last week against the US dollar, as the heads of both central banks supported the interest rate increase in the future.

The index of major manufacturers Tankan, published by the Bank of Japan, in the second quarter increased to 17 compared with 12 in the first quarter. Economists expected the growth rate to 15.